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16 Jul 08 Vishal Information Technologies IPO Subscription Details

Vishal Information Technologies IPO subscription is scheduled to open on Monday, July 21, 2008. I do not understand the rationale behind the promoters deciding to go ahead with the IPO under the current scenario where the market is tanking almost every day and the sentiments among investors is at a record low. However, since the pricing of the IPO is extremely attractive, the promoters and merchant bankers managing the issue are probably hopeful that the issue will sail through. Vishal Information Technologies IPO price band has been fixed between Rs. 14o and Rs. 150 per share of face balue Rs. 10 each. The market lot is 40 shares and the IPO is scheduled to close for subscription on July 24, 2008. Though the pricing of the IPO is attractive, I’m planning to gibe this IPO a miss considering the current market conditions.


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